US House Antitrust report might be the beginning of Big Tech’s reckoning

It’s finally here. After an investigation that lasted more than a year, a U.S. House antitrust subcommittee has come up with a robust game plan to rein in the biggest tech giants. In a report issued Tuesday, the panel accused Amazon.com Inc., Apple Inc., Facebook Inc. and Google parent Alphabet Inc. — whose collective market value is more than $5 trillion — of abusing the power of their platforms to cut off competitors and extend their dominance. It calls for a structural breakup of their businesses. I can’t argue with the logic, especially when it comes to Amazon.

“These firms have too much power, and that power must be reined in and subject to appropriate oversight and enforcement. Our economy and democracy are at stake,” the nearly 450-page final report said. “Our laws must be updated to ensure that our economy remains vibrant and open in the digital age.”